Foreclosure Inventory Reaches February 2008 Figures: Black Knight

The nation's inventory of loans in foreclosure reached its lowest level since February 2008, according to a Black Knight Financial Services report.

Through September, 1.76% of active mortgages are in foreclosure, the Jacksonville, Fla.-based analytic provider said in its "first look" report on Friday. This percentage is equal to 893,000 loans, which is down 33% from a year earlier.

Meanwhile, delinquencies continued to decline, too. The U.S. loan delinquency rate — loans 30 or more days past due, but not in foreclosure — at the end of September was 5.67%, down 3.9% month-over-month and a 12% drop compared to the same time period last year.

The delinquent inventory fell from August by 117,000, with over 2.8 million loans nationwide in September at least 30 days past due.

The top five states with the highest percentage of noncurrent loans include Mississippi (14.4%), New Jersey (12.2%), Louisiana (11.2%), New York (10.8%) and Florida (10.6%).

Conversely, the least amount of delinquent loans was found in Minnesota, Montana, Colorado, South Dakota and North Dakota, Black Knight reported.

Black Knight's data are derived from its loan-level database that represents approximately two-thirds of the overall market.

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